First Community Corporation Acquires Signature Bank of Georgia

Rhea-AI Summary

First Community Corporation (Nasdaq: FCCO) closed its acquisition of Signature Bank of Georgia effective January 8, 2026. The merged banks give First Community more than $2.3 billion in assets, $2.1 billion in deposits and customer cash management accounts, and $1.5 billion in loans, and create a network of 23 full-service offices plus a loan production office across South Carolina and Georgia.

The deal was valued at approximately $50.0 million as of December 31, 2025; Signature shareholders receive 0.6410 shares of First Community for each Signature share. Systems conversion is scheduled for completion in March 2026. Two former Signature directors joined First Community boards.

Positive

• Combined assets exceed $2.3 billion
• Combined deposits and cash accounts total $2.1 billion
• Combined loans total $1.5 billion
• Creates a 23-office full-service banking network
• Adds SBA/USDA lending capabilities across markets
• Signature shareholders receive 0.6410 First Community shares

Negative

• None.

News Market Reaction

-0.80%

1 alert

-0.80% News Effect

On the day this news was published, FCCO declined 0.80%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Total assets post-merger: $2.3 billion Deposits & cash management: $2.1 billion Total loans: $1.5 billion +5 more

8 metrics

Total assets post-merger $2.3 billion Company size after Signature Bank acquisition

Deposits & cash management $2.1 billion Deposits and customer cash management accounts post-merger

Total loans $1.5 billion Loan portfolio size after acquisition

Banking offices 23 offices Full-service offices plus a loan production office post-merger

Deal value $50.0 million Acquisition value as of December 31, 2025

Exchange ratio 0.6410 shares FCCO shares per Signature Bank share

Merger effective date January 8, 2026 Date acquisition of Signature Bank became effective

Systems conversion timing March 2026 Target completion for systems conversion

Market Reality Check

Price: $29.92 Vol: Volume 61,240 vs 20-day a...

normal vol

$29.92 Last Close

Volume Volume 61,240 vs 20-day avg 44,823 (relative volume 1.37x) ahead of the acquisition closing news. normal

Technical Price $29.99 is above the 200-day MA of $25.97 and within 4.79% of the 52-week high $31.50.

Peers on Argus

FCCO was up 2.04% while close peers were mixed: ESSA -1.2%, VABK -1.26%, FRAF +6...

FCCO was up 2.04% while close peers were mixed: ESSA -1.2%, VABK -1.26%, FRAF +6.62%, FUNC +2.71%, ISBA +3.14%. Moves do not point to a unified sector rotation.

Historical Context

4 past events · Latest: Dec 16 (Neutral)

Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Dec 16	Earnings schedule update	Neutral	-0.0%	Outlined 2026 quarterly earnings release dates and times.
Oct 22	Q3 earnings & dividend	Positive	+2.4%	Reported higher Q3 2025 net income and EPS with dividend and buyback.
Jul 23	Record earnings & deal	Positive	+1.3%	Announced record Q2 2025 earnings and plans to acquire Signature Bank.
Jul 14	Acquisition announcement	Positive	+1.2%	Revealed all-stock acquisition of Signature Bank and Atlanta expansion.

Pattern Detected

Recent fundamentally positive news (earnings, acquisition announcement) has typically coincided with modestly positive 1-day price reactions.

Recent Company History

This announcement closes the Signature Bank of Georgia acquisition initially detailed on Jul 14, 2025, when FCCO outlined an all-stock deal expanding into the Atlanta MSA and targeting $2.3B in assets. Since then, FCCO delivered record Q2 and strong Q3 2025 results with higher earnings, loan growth, and dividends, and secured shareholder approvals for the merger on Nov 20, 2025. Today’s completion ties together that earnings momentum and the strategic Atlanta expansion into a larger $2.3B-asset platform.

Market Pulse Summary

This announcement finalizes the Signature Bank of Georgia acquisition, creating a $2.3B-asset instit...

Analysis

This announcement finalizes the Signature Bank of Georgia acquisition, creating a $2.3B-asset institution with $2.1B in deposits, $1.5B in loans, and 23 offices plus a loan production office. It extends FCCO’s footprint into the Atlanta MSA and adds SBA/USDA lending capabilities. Investors may track integration progress through March 2026 systems conversion, post-merger expense trends, and how quickly specialty lending is scaled across markets.

Key Terms

loan production office, cash management accounts, SBA/USDA lending

3 terms

loan production office financial

"The transaction creates a banking office network of 23 full-service offices and a loan production office spanning the Midlands..."

A loan production office is a bank or finance company location set up primarily to find, meet with, and originate loans, but it typically does not handle full retail services like deposits or cash transactions. For investors, an LPO is a way for a lender to grow loan volume and reach new customers with lower overhead, which can boost revenue but also concentrates credit risk in specific markets—like opening a pop-up shop that only sells one product.

cash management accounts financial

"the Company has more than $2.3 billion in assets, $2.1 billion in deposits and customer cash management accounts..."

A cash management account is a single financial account that combines everyday banking features (like checking, bill pay and debit access) with investment-style services (such as sweep to money market funds or short-term securities), so your idle cash can earn a return while remaining liquid. For investors it matters because it simplifies cash flow, reduces the need to move money between separate bank and brokerage accounts, and can increase the effective yield on short-term cash holding much like parking spare change in a high-interest piggy bank.

SBA/USDA lending financial

"with this merger, the addition of SBA/USDA lending, with plans to scale these lines..."

SBA/USDA lending refers to government-backed loans and loan guarantees from the U.S. Small Business Administration and the U.S. Department of Agriculture that help businesses, especially small and rural enterprises, access financing they might not get from private banks. For investors, these programs matter because they lower borrower default risk, can expand credit flow into specific sectors or regions, and influence a company’s ability to grow, service debt, or qualify for acquisition and expansion financing—similar to a safety net that makes risky lending more palatable.

AI-generated analysis. Not financial advice.

LEXINGTON, S.C., Jan. 9, 2026 /PRNewswire/ -- First Community Corporation (Nasdaq: FCCO) (the "Company" or "First Community"), the holding company for First Community Bank, announced today the closing of its acquisition of Signature Bank of Georgia ("Signature Bank"), effective January 8, 2026 (the "Merger").  Following completion of the Merger, Signature Bank was merged with and into First Community Bank.

Immediately following the completion of the Merger, the former offices of Signature Bank acquired in the Merger will continue to operate as First Community Bank d/b/a Signature Bank of Georgia until the systems conversion is completed in March 2026. With the addition of Signature Bank, the Company has more than $2.3 billion in assets, $2.1 billion in deposits and customer cash management accounts, and $1.5 billion in loans.  The transaction creates a banking office network of 23 full-service offices and a loan production office spanning the Midlands, Upstate, and Piedmont regions of South Carolina, the Central Savannah River Area region of South Carolina and Georgia, and the Atlanta–Sandy Springs–Roswell, Georgia MSA.   

First Community President and CEO Michael C. "Mike" Crapps commented on the acquisition, "The combination of our banking companies continues our commitment as a community bank focused on local businesses, professionals, and entrepreneurs with the ability and financial strength to serve the banking needs of our communities and enhance shareholder value through operating advantages gained with the merger of our two institutions." Crapps continued, "In addition to traditional deposit and loan products, our bank offers residential mortgage lending, financial planning and investment advisory services, and with this merger, the addition of SBA/USDA lending, with plans to scale these lines of business across all markets."

The deal was valued at approximately $50.0 million as of December 31, 2025.  Signature Bank shareholders will receive 0.6410 shares of the First Community's common stock in exchange for each share of Signature Bank common stock. 

In connection with the closing of the Merger, two additional directors have been appointed to the boards of directors of First Community and First Community Bank. Fred J. "Freddie" Deutsch has joined First Community and First Community Bank as a non-independent director. Mr. Deutsch previously served as Chief Executive Officer of Signature Bank and, following the Merger, also serves as Executive Vice President of First Community Bank and Director of Specialty Business Lending. Jonathan W. "Jon" Been has joined First Community and First Community Bank as an independent director. Mr. Been previously served as Lead Director of Signature Bank.

FORWARD-LOOKING STATEMENTS

This communication includes statements made in respect of the Merger involving the Company and Signature Bank. Certain statements in this news release contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to our future plans, objectives, goals, projections, intentions and expectations, are not historical facts, and are identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "continue," and "projects," as well as similar expressions.  Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors, include among others, the following: (1) the businesses of First Community Bank and Signature Bank may not be integrated successfully or such integration may take longer to accomplish than expected; (2) the expected cost savings and any revenue synergies from the Merger may not be fully realized within the expected timeframes or at all; (3) disruption from the Merger may make it more difficult to maintain relationships with clients, associates, or suppliers; (4) competitive pressures among depository and other financial institutions may increase significantly and have an effect on pricing, spending, third-party relationships and revenues; (5) general economic conditions resulting in, among other things, a deterioration in credit quality or adverse changes in asset quality and resulting credit risk-related losses and expenses; (6) changes in the interest rate environment, which are affected by many factors beyond our control, including inflation, recession, unemployment, money supply, domestic and international events and changes in the United States and other financial markets, and that could reduce anticipated or actual margins; temporarily reduce the market value of our available-for-sale investment securities and temporarily reduce accumulated other comprehensive income or increase accumulated other comprehensive loss, which temporarily could reduce shareholders' equity; (7) changes in the U.S. legal and regulatory framework; (8) adverse conditions in the stock market, the public debt markets and other capital markets (including changes in interest rate conditions) could have a negative impact on the Company; and (9) cybersecurity risk related to our dependence on internal computer systems and the technology of outside service providers, as well as the potential impacts of third party security breaches, which subject us to potential business disruptions or financial losses resulting from deliberate attacks or unintentional events.

Additional factors that could cause results to differ materially from those described above can be found in the risk factors described in Item 1A. of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") for the year ended December 31, 2024, in any of our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K filed with the SEC since the end of the fiscal year covered by our most recently filed Annual Report on Form 10-K, and in the joint proxy statement of First Community and Signature Bank and the prospectus of First Community regarding the Merger that was filed with the SEC on September 24, 2025 pursuant to Rule 424(b)(3) by the Company, all which are available at the SEC's Internet site (http://www.sec.gov). All subsequent written and oral forward-looking statements concerning the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The Company undertakes no obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

View original content to download multimedia:https://www.prnewswire.com/news-releases/first-community-corporation-acquires-signature-bank-of-georgia-302657106.html

SOURCE First Community Corporation

FAQ

When did First Community (FCCO) complete the Signature Bank of Georgia acquisition?

The Merger closed effective January 8, 2026.

How large is First Community (FCCO) after the Signature Bank deal?

Post-closing assets exceed $2.3 billion, deposits $2.1 billion, loans $1.5 billion.

What is the exchange ratio for Signature Bank shareholders in the FCCO merger?

Signature Bank shareholders receive 0.6410 shares of First Community common stock per Signature share.

When will Signature Bank offices convert to First Community systems (FCCO)?

Systems conversion is planned to be completed in March 2026.

What geographic footprint does FCCO gain from the Signature Bank acquisition?

A network spanning Midlands, Upstate, Piedmont, Central Savannah River Area, and Atlanta–Sandy Springs–Roswell MSA.

Were any board or management changes announced for First Community (FCCO)?

Two former Signature directors joined the boards; one became non-independent and one independent director.